Are There Practical Choices In Crypto?
Yesterday, I was watching an adventure movie in which one kingdom was overpowered by another and was certain to win the battle. The opposing nation, which was winning and had already slaughtered a large portion of the kingdom's warriors, set fire to their city, and the loss appeared irreversible.
The king, however, was still alive in the inner chamber, along with a few other warriors. So the king gave the remaining warriors a pep talk about honor and valor, and they charged into the enemy's frontline, only to be killed within five minutes.
It now seemed ridiculous that they knew the battle had been lost. Should not they just cut their losses and say, "Oh, you know what? Let us just escape through the back door, run into the woods, take our wives and children, and never come back?"
It still does not seem like the best plan, but it was probably the only one they had. However, the king and his men chose what they did out of honor.
To the average person, honor may not be as important as survival, but this is how loyalty works.
Crypto
We live in a practical world, and anything that does not appear to make sense on the surface is considered foolishness. Take a look at cryptocurrency; it is not a game of practicality, which is why people buy at the top and sell at the bottom, when it should be the opposite.
Investing in cryptocurrency should be risky, and it is, but losing money makes no sense, and you want to cut your losses and get out.
Some projects are secretly admired from afar, but they are actually the result of a dedicated community's efforts. For example, during the last bull run, many splinterlands orcas had net worths of one million dollars, and while it would have been prudent to profit, many people did not.
Although some of this was due to loyalty to the game, some was due to massive greed, and a few others did not see the massive dip that would follow in the bear market, as well as the decline in the game's quality, but greed was the primary reason.
Profit Over Anything
One could argue that crypto is for profit, which is true, but there are people whose loyalty is the reason a project is appealing.
I came across a comment on someone I follow's post today. The person in question was talking about creating a WordPress plugin that allows for transactions with the Hive Blockchain, and the owner of the post asked the guy if he would not write a proposal to get funding for this, but the person in question was not so interested in proposals, but he was probably more of a believer, and someone who wants Hive to work as well as it should in the long run.
In reality, there are people who do things for Hive that we do not give enough credit for. Theycallmedan is one of such individuals. On Hive, he is more of a personality, and most people have no idea how much work he does every day for Hive without being paid. When Hive Forked from Steemit, some were only interested in making money, while others were simply looking for a functional Blockchain.
The pursuit of profit is practical; it appears to be the only logical thing to do for someone looking for massive gains, but there are those who would disagree.
Crypto 101
On a larger scale, if cryptocurrency is not
comfortable most people don't want to do it, there are project that offers beginners the opportunity, but sometimes it's tedious and takes a lot of time, and many do not wants what takes time. This is why you see investment at the top, and selling at the bottom.
Crypto 101 is not a difficult course; however, it does not provide a practical playbook.
It is not the "5 steps to becoming a millionaire" type of thing. There are no clickbaits in crypto, only process, time and effort, sometimes you might even be doing the obviously stupid thing, and you know they're stupid things, but you just do them anyway.
This is what crypto forces you to do, and sometimes you simply question it with your senses. There are no practical choices in cryptocurrency; only risks, dedication, efforts, sacrifices, and so on. You just have to be very deep, even if you risk losing everything. May the Grace of the Lord Jesus Christ be with you
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If you give up just because you take a loss in crypto you won't get very far. I took a big hit when Axie went down the drain, but I had made a fair amount off of scholars up until then. I still own 9 Axies, maybe I should try to sell them now that the market is perking up. lol
If crypto isn't practical the majority of the people won't use it. I've always felt Doge had a decent chance of some adoption after Musk made it profitable. Time will tell. Sounds like an interesting course, maybe I should create my own course and videos to sell to the average Joe on how to make money in crypto! lol
Let's cross our fingers and hope we all see some nice profits soon!
I invested on splinterlands when one BCX of Djinn Oshannus was 39$ and it was probably a big mistake to do it at the top.
My cards are in over 90% loss, but I still love and play the game and wish I was a collector and enough to keep playing..
Sorry about your Anxie. The game was a big deal in 2021 and I heard many incurred losses at some point.
Maybe you should wait a little for when the prices begins to boom in maybe January, and you can still make something of off them..
Haha, it wouldn't be a bad idea, except there are millions of people trying to sell the regular newbie a crypto course
I had a gold Oshannus level three, I sold some time ago before the huge drop came but I still lost a fair amount. I may do that on the Axie's, At one point I was breeding and selling them at more than $200 a pop and now they aren't worth even ten dollars.
There are way too many of those courses out there already, and unless you have a huge advertising budget and production budget it wouldn't be worth it. I wouldn't waste good money making a course, it would be hard to recover the investment! lol
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Thanks
Greetings @josediccus ,
Thank you for the smiles....we do get attached to these coins..I do believe.
Sometimes even hearing a tokens name can send a dialogue moving in a completely different direction.
Just as you did above ...that is speaking categorically of the Crytosphere...I have found is best. ^__^
It is said by some traders....you are in it to make a profit...when the time comes take profit or someone else will...
However when we are too attached...who would sell?
Kind Regards,
Bleujay
Yeah, we're in to make profit, but most of the times people don't do so. The market is entwined with lots of emotions and sometimes we find ourselves doing the things that aren't rational.
As for attachments, yes we get attached to the projects we actually love, it's one of those things.
However I think people will act according to their emotions in the coming bull market, we will see.
Thanks for your input, appreciate it.
Those that lost out on huge profits (a million dollars!) in 2021 only have themselves to blame. When it comes to crypto investing, controlling our emotions is very important. Especially fear, greed and impatience. At least those are some factors you can control. I plan to take profit each significant move the market makes during the bull run. That is, each significant bullish move I can take like 10% profit. So one does not miss out on the bull run.
They really don't have themselves to blame. 80% of people in 2021 didn't have a favourable market and that was because of many factors. Not understanding the market was actually one of them. Taking profit is not easy, there are so many emotions in play and most of the time people just completely miss out.
Hmmm!!!
Reading this post makes me think of so many things, in and out of hive.
One thing I have to say concerning the part you talked about those who work for the betterment of hive and are not recognized or properly acknowledged is that, most people like me don't even know that and one thing those individuals should know is that for every good deed one does, there's always a pay day.
I'm happy those guys are not downed by the fact that they are not honored for their effortless sacrifices to keep the blockchain standing.
Just like you said my boss, most things we do in life and most decisions we make shouldn't be for our selfish interests, considering the comfortability of others at some point makes us loyal and honorable people even though those favored act indifferent towards us.
Thanks for sharing this amazing post, I've really learned a lot.
To Theycallmedan and others that work towards keeping strong the pillars of hive blockchain, you deserve more than just a recognition but greater rewards.
It's not a new thing in hive. I'm not taking about posting and earning rewards, there are people who were around when hive forked, I'm not sure whether you were here then, so I was talking about the efforts of these people towards forking the chain and created what we now enjoy today. It's a sacrifice that might not be rewarded
That's awesome.
I'm absolutely not on hive as at then.
It was rough to see that Splinterlands value drop down so much after the last bull cycle. I think it's better to come up with a plan and taking some profits along the way is never wrong.
Well, I'll never be able to take profit, unless the cards recoup some of the value I actually bought them for.
It is rough, but I am glad that I got in before the bull market started. So I am still in the profit despite everything happening. Let's hope that our asset prices goes up.
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@josediccus, I paid out 0.511 HIVE and 0.118 HBD to reward 7 comments in this discussion thread.
🙏